I'm self evident New York -- the financial markets close on Wall Street on Tuesday July 22 there's a story stock. Today a look at -- -- and the billionaire hedge fund manager -- try to put the controversial nutrition and weight control company. Out of business for good. It's a fascinating saga here to sort out the details Shibani Joshi of Yahoo! finance okay. For the people who have not heard of Herbalife give us an idea about this company and how runs itself. Hi there Michelle this is and nutrition and based company -- diet based company they sell protein shakes and they have all these nutrition centers. And that's -- he makes his money by selling products and then also getting sort of the subscription. Revenue through these memberships to its clot now Blackmon is an activist investor. With pershing square capital this is a big hedge -- this is what he does for a living he takes. A very active stance in any company -- he ends up investing and and he's trying to sort of direct change -- I hear Wyden bill Blackmon is accusing Herbalife. Is being. And under managed company in making some very strong accusations. And and basically saying it's a Ponzi scheme in heat is making a large -- in the order of a billion dollars a billion dollar short position. I'm betting that the company's share price is going to go down and he's doing sort of everything very vocal Lee found that he can to see that that happens. -- -- spoke at length again railing against -- -- get an idea he also prettiest. Pretty tough words here. In trying to take the company down. He sure dead I mean and speaking out lanes is sort of an understatement he spoke for three and a half hours today was a total lanes of the presentation he spoke to investor is. I shareholders of various different types hearing nearest city and -- he's trying to dig in get people to do. Is he said -- he wants a shot this company down again he's accusing -- of being a Ponzi scheme tight. Tight -- company. -- he says -- the company praise on the underprivileged. And he spent over fifteen million dollars trying to. To get to the bottom of the this company -- and doing different different two years but this company is still alive and -- alive and kicking. So here's where it gets really interesting that the words itself or bad enough while he was talking. It seems that his words seemed to have an opposite effect of what was going -- give us an idea. Of what was happening to -- stock throughout this whole three hour talk. Dad bill -- seems to be some of that a puppet master when it comes to -- Herbalife because he's very public very vocal and he's trying sisters -- stir up the pot yesterday he went on public media. And he went out there and say he is prepared to -- -- a death blow to Herbalife and shares of Herbalife closed down lower by 11%. And then suddenly. -- he started talking as investors started getting a glimpse of the video in that picture is and they dated he says he's he spent a lot of time in fifty million dollars collecting. They weren't impressed and in fact shares rose more than 23%. To enduring. -- at various points during the trading day. Coming in it at six year highs because they Jasper not delivered this -- and -- substantive material that they that they needed. Again to follow asserted edited to heat and follow his advice in terms of shutting down this company and selling the stock you just not filing for -- those sellers today. Herbalife of course not remain silent on this set in this -- spots in a statement once again bill Blackmon -- over promise and under delivered on his one. Billion dollar bet against our company. After spending 50000002. Years and tens of thousands of man hours bill -- further demonstrated today that the facts are on our side is when discussing the ethics or even if there is. -- at this legal of act act men's actions. Well there's nothing unethical or illegal about discuss. A disclosing an end and revealing they have a short position again a short position is I bet on the company's stock most of us bet on stock -- going up. -- activist. A hedge funds and sophisticated investors out there will bet on stock prices going down what he's trying to do. Is get the stock price to go down -- he was. He was effective in doing that over the short term that he still continuing to make a case. He made this -- time in 2012 heat cannot cash out of -- I believe for another year so. But he's trying to basically make his wish materialized and investors are are betting against that and saying that we just don't see the Faxon and we're not. Seeing what you have to back it up. So there really isn't big and very public Tug of war going on in an answering the public. The landscape here. And and it's unfortunate for shareholders that you know -- shareholders lake in lake view than myself who might be invested it it it's coming at a steep price -- today. In the case -- Herbalife shares -- -- game. Shibani Joshi of Yahoo! finance thanks a lot for shedding some light on this issue thanks. Even watch his story stocks stay with abcnews.com. For your latest business headlines I'm Michelle -- -- New York.

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